21 Nov 2013
Flash: dollar up on China?
FXstreet.com (London) - Kit Juckes, head of currency strategy at Societe Generale notes developments in China affecting the dollar across the board.
Key Quotes:
“China has USD 3.6 trn in reserves, and an early breakfast guess is that they have accumulated a trillion treasuries. Enough? That doesn't make them a seller and even re-investing redemptions and coupons would keep them busy, but apparently, they're ready to 'taper' purchases even sooner than the Fed is ready to slow its 85bn monthly buying.”.
“FPMC taper talk, a dip in the HSBC China PMI to 50.4 are the other news items of note. The dollar's stronger across the board, gold down, USD/JPY thinking of breaking free”.
Key Quotes:
“China has USD 3.6 trn in reserves, and an early breakfast guess is that they have accumulated a trillion treasuries. Enough? That doesn't make them a seller and even re-investing redemptions and coupons would keep them busy, but apparently, they're ready to 'taper' purchases even sooner than the Fed is ready to slow its 85bn monthly buying.”.
“FPMC taper talk, a dip in the HSBC China PMI to 50.4 are the other news items of note. The dollar's stronger across the board, gold down, USD/JPY thinking of breaking free”.